Payment of royalty for technical knowhow as per TCA Agreement allowable as revenue expenditure

Brief of the case:

Revenue challenged the order passed by ITAT which confirmed the order of CIT (A) that expenditure incurred i.e. payment of royalty for technical knowhow in terms of Technical Collaboration Agreement (TCA Agreement) is an allowable expenditure as no benefit was obtained by the Assessee for the period beyond the relevant assessment years. In an another issue High court confirmed the action of ITAT that assessee can claim depreciation UPS and computer peripheral used more than 180 days in previ

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